Orangekloud Technology: Buy Rating Reaffirmed on Strengthening AI-Led No-Code Growth Despite Higher Risk and Capital Needs

In a report released yesterday, Allen Klee from Maxim Group maintained a Buy rating on Orangekloud Technology Inc. Class A, with a price target of $4.00.

Allen Klee has given his Buy rating due to a combination of factors tied to Orangekloud Technology’s operating momentum and product positioning. He notes that the company delivered stronger-than-expected results in the first half of 2025, with double‑digit revenue growth and improving gross margins, indicating that demand for its no‑code platform is gaining traction. Klee highlights that the business model is largely based on software, licensing, and SaaS, which he believes can support attractive margins as the company scales. He also points to an expanded product roadmap, including the launch of an AI‑driven no‑code development platform and an AI beta product that lets users build applications via natural language, as catalysts for future growth.
At the same time, Klee incorporates the company’s increased spending on AI development and the need to raise capital by late 2026 into his forecasts, which leads him to widen projected EBITDA losses for 2026 and raise the discount rate in his valuation model. Despite these headwinds, he sees substantial upside based on a 10‑year discounted cash flow analysis that supports his $4 price target, equivalent to a modest multiple of projected 2027 revenue. He underscores the company’s strategic initiatives—such as partnerships for AI and cybersecurity, regional expansion in Southeast Asia and beyond, and government subsidies available to customers—as supportive of sustained revenue acceleration. In his view, the combination of strengthening fundamentals, differentiated AI‑led no‑code technology, and a depressed share price justifies maintaining a Buy recommendation, even after reducing the target price to reflect capital needs and a more conservative risk profile.

According to TipRanks, Klee is an analyst with an average return of -10.8% and a 32.46% success rate. Klee covers the Technology sector, focusing on stocks such as Castellum, Roadzen Inc, and T Stamp, Inc. Class A.